SuperDerivatives, a leading financial information, derivatives technology and trade execution provider, has announced that its multi-bank multi-asset trading platform SDeX is now live.
Connected to SuperDerivatives' award winning multi-asset front office platform SDX, SDeX allows users to request tradable prices from all of their counterparties on any trade they can price in SDX, regardless of its complexity, and execute at the best price.
Having priced the potential trade, from the simple vanilla swap to complex multi-legged structures, in SDX, users can get live quotes on SDeX, negotiate, trade and book all the trades into SDeX with a few simple clicks.
SDeX supports all asset classes and is actively used for base and precious metals, FX, oil products, freight, credit derivatives and equity derivatives. Interest rates derivatives and other assets are due to become active later this year.
The platform is supported by 26 market making banks on a very wide range of products from simple vanilla swaps to strips of Target Redemption products.
SDeX enhances efficiency by replacing a variety of single channel communication tools with one rich multi-asset marketplace, offering unlimited coverage of structures and products.
It covers the entire workflow, including pre-trade analysis, trade execution at the best price available in the market and post-trade confirmation and reporting. Prior to going live SDeX was in beta for a number of months, with feedback from beta users being incorporated into the current version.
"SDeX is the most advanced derivatives trading platform available in terms of functionality, underlying asset coverage, available trade types and the ability to execute multi-leg structures" said David Collins, Head of Strategy at SuperDerivatives.
"Users really like having a single screen allowing them to reach all of their banks with one click. It ensures compliance with MIFID II and is under application to become a SEF.
"SDeX preserves the relationship between market makers and market takers and makes the whole trade execution process for complex derivatives much simpler and less risky".
"The reception from the market has been fantastic. Banks - large and small - hedge funds, private wealth managers and corporations have been quick to embrace the technology and appreciate how it saves them time and reduces operational risk."
SuperDerivatives is currently preparing to connect SDeX to clearing services and the system is expected to evolve further to help bankers and clients connect more effectively electronically and has been designed to complement relationships between users and banks, improving communication channels and market transparency.